IP in Westmead (Sydney)

[TGIF]

Hi,

This unit is for sale "off the plan" in Westmead (Sydney)

2 bedroom, 2 bathroom, 1 car unit with split
system air conditioning, balcony, video intercom, lift access
& security undercover parking, near the hospital, asking $415,000.

Good investment? Yes, No, Maybe?

Thanks
TGIF

 

[farmilor]

which unit???

and probably not at that price .......

 

[TGIF]

westmead ip

Hi Farmilor,

Its a staged development called Park Central in Darcy St Westmead, estimated date of completion late 2011. Estimated rent $430 to $450. I dont know the area but want to buy something in NSW.

thanks
TGIF

 

[Propertunity]

Good investment? Yes, No, Maybe?

Yes - all of the above.

Yes - lots of depreciation on brand new. Low maintenance on brand new too. Westmead is in high demand by the Indian population.
No - you are paying the developer his profit margin and are likely to have low / no CG for the first few years of your investment. What are the strata fees like?
Maybe - OTP works well in a rising environment, which we are clearly in. BUT there are many risks. Do a search on OTP for some horror stories + some good stories.

I dont know the area but want to buy something in NSW.

Mmmmmm..........groans.............NSW is a big place. Why pick Westmead? (not saying it isn't any good)

 

[twobobsworth]

Where in darcy street. Didn't think there was any room left for development.

Or do you mean the development in mons street?

Lots of 2 bed units in Westmead well under this price.

 

[TGIF]

thanks for the feedback

What are the strata fees like? $3000 PA

Why pick Westmead? Near a hospitall, not far from Parramatta or the city


Where in darcy street? 29-33 Darcy

 

[neK]

$3000 Per annum???

WTF thats pretty high. Im guessing its got a lifts and tennis courts?

 

[kissfan]

lift access

$3000 Per annum???

WTF thats pretty high. Im guessing its got a lifts and tennis courts?

Don't know about the tennis courts though.

Regards
Marty

 

[TGIF]

The property has lift access to all floors from the basement but no tennis courts or pool.

Thanks for your input

TGIF